Swiss trading group DKSH to list on March 21
Swiss trading group DKSH said on Thursday that it would float about a third of its shares on March 21, in a move expected to value the company at up to 3.0 billion francs (2.5 billion euros, $3.3 billion).
Shareholders of the family held firm are planning to float 30 percent of the company's stocks, at between 42 and 48 francs per share. There will also be an overallotment option of 10 percent.
"Hence, market capitalisation is expected to be in the range of around 2.6 billion to 3.0 billion Swiss francs," said the group in a statement.
DKSH is involved in marketing, sales and distribution in the health, consumer goods and technology sectors and employs about 24,000 people.
It has been active across Asia Pacific for more than a century, and has about 630 of its 650 business sites there.
Profit after tax rose 25.7 percent to 152 million Swiss francs last year from 2010 and operating profit increased 21.7 percent to 238 million francs.
Net sales rose 0.6 percent to 7.3 billion francs.
© 2012 AFP